Key Points
- Insider sale: Barnes & Noble Education CAO Gary Luster sold 1,066 shares on July 10 at an average price of $11.61, trimming his holdings by 3.23% to 31,934 shares.
- Recent earnings beat: The company reported quarterly EPS of $0.10, topping analyst estimates of $0.07, while revenue of $267.1 million was roughly in line with expectations.
- Dividend and analyst views: BNED declared a quarterly dividend of $0.08 per share, and analysts currently have a mixed but cautious outlook with a consensus rating of Hold and an average price target of $17.25.
Barnes & Noble Education, Inc (NYSE:BNED - Get Free Report) CAO Gary Luster sold 1,066 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $11.61, for a total value of $12,376.26. Following the transaction, the chief accounting officer directly owned 31,934 shares in the company, valued at $370,753.74. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Barnes & Noble Education Stock Performance
BNED stock opened at $12.26 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.66. Barnes & Noble Education, Inc has a 1 year low of $5.90 and a 1 year high of $14.75. The company has a market cap of $424.65 million, a P/E ratio of 26.08 and a beta of 1.29. The stock's fifty day moving average price is $10.90 and its 200-day moving average price is $9.70.
Barnes & Noble Education (NYSE:BNED - Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The specialty retailer reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. Barnes & Noble Education had a return on equity of 7.92% and a net margin of 0.98%.The company had revenue of $267.10 million during the quarter, compared to analysts' expectations of $267.55 million. On average, equities analysts forecast that Barnes & Noble Education, Inc will post 0.58 earnings per share for the current year.
Barnes & Noble Education Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, July 16th. Barnes & Noble Education's payout ratio is currently 68.09%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on BNED. Weiss Ratings reiterated a "sell (e+)" rating on shares of Barnes & Noble Education in a research note on Wednesday, July 8th. Needham & Company LLC upgraded shares of Barnes & Noble Education from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a research report on Friday, June 26th. Wall Street Zen raised shares of Barnes & Noble Education from a "hold" rating to a "buy" rating in a report on Sunday. Zacks Research upgraded shares of Barnes & Noble Education to a "hold" rating in a research report on Thursday, June 11th. Finally, Northland Securities set a $18.50 price target on shares of Barnes & Noble Education in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $17.25.
Get Our Latest Analysis on BNED
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in BNED. Royal Bank of Canada grew its stake in shares of Barnes & Noble Education by 261.1% during the 4th quarter. Royal Bank of Canada now owns 3,972 shares of the specialty retailer's stock valued at $36,000 after acquiring an additional 2,872 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Barnes & Noble Education by 205.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,326 shares of the specialty retailer's stock valued at $40,000 after purchasing an additional 2,910 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Barnes & Noble Education by 1,412.1% in the fourth quarter. Bank of America Corp DE now owns 6,139 shares of the specialty retailer's stock worth $62,000 after purchasing an additional 5,733 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Barnes & Noble Education in the second quarter worth $96,000. Finally, Copeland Capital Management LLC purchased a new stake in shares of Barnes & Noble Education in the first quarter worth $73,000. 38.51% of the stock is currently owned by institutional investors.
Barnes & Noble Education Company Profile
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Get Free Report)
Barnes & Noble Education, Inc (NYSE: BNED) is a leading provider of educational products and services to the higher education community. The company operates retail campus bookstores under Barnes & Noble College, offering course materials, general merchandise, and digital content. In addition, Barnes & Noble Education delivers educational technology solutions through its digital learning platform and supplemental courseware.
Originally part of Barnes & Noble, Inc, the company completed its spin-off and initial public offering in February 2015 to focus exclusively on college retail and digital learning.
Further Reading
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